part 3 4 5 6 7 October 10Calculate the interest accrued to October 1.Calculate the new principal on October 1.Calculate the interest accrued to October 10.Calculate the interest charged on October 10.November 10Calculate the interest charged on November 10.December 1Calculate the interest charged on December 1.Calçulate the total interest cost of the loan.CheckjeNext page Erindale Automotive borrowed $8,800 from the Bank of Montreal on a demand note on May 10. Interest on the loan, calculated onthe daily balance, is charged to Erindale's current account (the separate interest method) on the 10th of each month. Erindale made apayment of $2,000 on July 20, a payment of $3,000 on October 1, and repaid the balance on December 1. The rate of interest on theloan on May 10 was 8% per annum. The rate was changed to 9.5% on August 1 and to 8.5% on October 1. What was the total interestcost for the loan?June 10Calculate the interest charged on June 10.July 10Calculate the interest charged on July 10.August 10Calculate the interest accrued to July 20.Calculate the new principal on July 20.Calculate the interest accrued to August 1.Calculate the interest accrued to August 10.Calculate the interest charged on August 10.September 10Calculate the interest charged on September 10.

In this we need to calculate the interest on the daily basis.

e interest charged on July 10. e interest accrued to July 20. e new principal on July 20. e interest accrued to August 1. e interest accrued to August 10. e interest charged on August 10. 10 e interest charged on September 10.

e interest charged on July 10. e interest accrued to July 20. e new principal on July 20. e interest accrued to August 1. e interest accrued to August 10. e interest charged on August 10. 10 e interest charged on September 10.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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ples. assets. Company, organized in 2020, has the following transactions related to intangible $595,000 360,000 480,000 185,000 1/2/22 Purchased patent (7-year life) 4/1/22 Purchased a small company and as a result recorded goodwill (indefinite life) 7/1/22 Acquired 10-year franchise; expiration date 7/1/2032 9/1/22 Incurred research and development costs Instructions Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjust- ing entries as of December 31, 2022, recording any necessary amortization and reflecting all balances accu- rately as of that date. THAT
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